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Business Office

403b Plan

 

www.omni403b.com


OMNI'S Customer Care Team is available at 877-544-6664 between 7:30 am and 5:00 pm.  Representatives can assist with a variety of concerns including Salary Reduction Forms, Maximum Allowable Contribution limits, transaction requests, and much more!

OMNI's NEW Website is LIVE at http://www.omni403b.com

The IRS has recently announced the 2018 Maximum Allowable Contribution (MAC) limits. While the catch up contribution limits remain unchanged from previous years, the elective deferral limits for 403(b) contributions as well as the limits governing employer contributions have both increased from their 2017 levels as described below.

LIMITS

2017

2018

403(B) Elective Deferrals

$18,000.00

$18,500.00

Catch-Up Contribution

$  6,000.00

$  6,000.00

Non-Elective/Employer Contributions (Section 415(c) )

$54,000.00

$55,000.00


Additionally, individuals with at least 15 years of service with their current employer still may be entitled to contribute up to an additional $3,000 above their age-based limit, potentially increasing the limit to $27,500 for a participant utilizing both the age based and the full amount of the service based catch-up provisions.  Recipients of the non-elective contributions aged 50 and up will retain the opportunity to utilize the age based catch-up beyond the 451(c) limitation, allowing for a “combined maximum” of $61,000 in 2018.  Please note that the amount of non-elective employer contributions is reduced by employee elective deferrals.

If you have any questions concerning contribution limits, or any other 403(b)/457 matter, please contact OMNI at 877-544-6664.

Regards,
The OMNI Group